#Wallet Containing 430 BTC Discovered#
Hot Topic Overview
Overview
Coinbase Product Strategy and Business Operations Director Conor Grogan recently discovered 430 Bitcoin wallets associated with Silk Road founder Ross Ulbricht, which have remained untouched since their creation 13 years ago and haven't been seized by the US government. These wallets were likely "dust wallets" at the time, but are now worth around $47 million. Grogan reminded Ulbricht to check for BCH airdrop rewards and quipped whether he still holds the private keys to these wallets.
Ace Hot Topic Analysis
Analysis
Coinbase's Director of Product Strategy and Business Operations, Conor Grogan, recently tweeted that he found approximately 430 Bitcoin distributed across multiple wallets associated with Ross Ulbricht, the founder of Silk Road. These Bitcoin were not seized by the US government and have been inactive for over 13 years. These wallets were likely "dust wallets" at the time, but their total value is now approximately $47 million. Grogan is unsure if Ross still has the private keys to these wallets and reminded him to check for (BCH) airdrop rewards.These Bitcoin were likely accumulated during the operation of Silk Road, where Ross Ulbricht used these wallets for transactions. As these wallets have been inactive for years, they might have been forgotten or Ross Ulbricht may not have access to them. Despite the current significant value of these Bitcoin, Ross Ulbricht would need to find the corresponding private keys to retrieve them, which is not an easy task.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
The founder of the Silk Road, Ross Ulbricht, has been found to have 430 Bitcoin wallets, which were not seized by the US government 13 years ago and are now worth approximately $47 million.
These Bitcoins may simply be "dust wallets" that were overlooked in the past, and their value has now increased significantly.
It is unclear whether Ross Ulbricht still retains the private keys to these wallets, and if he can find the keys, he may be able to recover this portion of his assets.
Coinbase Director Conor Grogan discovered and publicly disclosed these wallets, raising concerns about cryptocurrency security and regulation.